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Why Japan’s hotel operators have nothing to fear from tourism backlash

For a country whose currency was once perceived by many global investors as a safe haven, the Japanese yen is in dire straits. Between March 2022 and July 2024, the yen plunged 40 per cent to its lowest level against the US dollar since 1986. Since then, Japan’s currency has been volatile, buffeted by external and domestic cross-currents. The uncertain outlook for the yen is partly attributable to the acute policy dilemmas facing the Bank of Japan. The country’s central bank is under pressure to...


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